Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Property and Equipment

v3.22.1
Note 3 - Property and Equipment
6 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

3. PROPERTY AND EQUIPMENT

 

At March 31, 2022 and September 30, 2021, property and equipment consisted of:

 

   

Estimated

                 
   

Useful

   

March 31,

   

September 30,

 
   

Life (years)

   

2022

   

2021

 

Computer equipment

    3     $ 9,357     $ 9,357  

Furniture and fixtures

    5       8,983       8,983  

Leasehold improvements

 

Life of Lease

      14,416       14,416  

Lab equipment

    5       1,000       1,000  
              33,756       33,756  

Less – accumulated depreciation

            30,114       28,516  

Property and equipment, net

          $ 3,642     $ 5,240  

 

For the three months ended March 31, 2022 and 2021, depreciation expense recorded was $799 and $617, respectively. For the six months ended March 31, 2022 and 2021 depreciation expense was $1,598 and $989, respectively.